Bulgaria is One of the Most Financially Affected by the Pandemic Countries

Business » FINANCE | May 31, 2020, Sunday // 21:46| Views: | Comments: 0
Bulgaria: Bulgaria is One of the Most Financially Affected by the Pandemic Countries pixabay.com

Bulgaria is one of the most financially affected countries as a result of the COVID pandemic crisis. This shows a study by the European Parliament. According to the survey, the biggest problems for residents of the Member States are related to loss of income, unemployment and inability to cover their debts.

Entire industries are already facing bankruptcy. According to the hotelier Vasil Dimitrov, the whole sector is endangered if no measures are taken. He is engaged in hotel and restaurant business in Blagoevgrad. He and his colleagues want the municipality to reduce taxes by up to 60% on rent and garbage fees. 

"We are asking for a reduction and recalculation for the two months we have not worked. Most of the colleagues have not opened yet, and there will be some who will not open, "Dimitrov told Nova TV.  

Traders at one of the largest second-hand car exchanges in Bulgaria are hoping for a miracle. "In two and a half months we have 2 sales, which cannot cover our costs," said Kristian Krumov. 

"People are scared, they will not change cars, we have nowhere to buy them and accordingly there will be no imports here," Krumov added.  

He predicts a crisis in the industry for at least another year, although the prices of used cars are already down by 10%.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Finance » Be a reporter: Write and send your article
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria